MISSISSAUGA, ON, May 5, 2021 /CNW/ – Morguard Corporation (“Morguard”) (TSX: MRC) today released its 2020 Sustainability Report, outlining the accomplishments and activities of Sustainable Morguard, the company-wide corporate sustainability and responsibility program that focuses on environmental, social and governance (“ESG”) performance. Despite the uncertainty caused by the pandemic over the past year, Morguard worked to protect the wellbeing of employees, tenants, residents, and other stakeholders with comprehensive health and safety protocols and increased the long-term value of its properties through sustainability initiatives. To download the 2020 Sustainability Report or the Sustainability Highlights, visit morguard.com/sustainability.
“COVID-19 continues to have a profound global impact on the way we live and work,” said K. Rai Sahi, Chairman and CEO, Morguard. “As one of Canada’s Safest Employers, Morguard has remained unwavering in our commitment to the health and safety of our communities, as well as our focus on the company’s sustainability initiatives. Sustainable Morguard delivered social benefits and economic value as we continued to reduce the environmental impact of our properties while navigating the new normal together.”
Despite the rapid changes needed to adjust to the way we live and work, we at Morguard believe that by working together with our employees, management, clients, residents, and tenants, we have the power to bring about positive change. That’s why we are committed to identifying and implementing innovative programs and measures that will ensure that the way we do business continues to appreciate the environment. This approach has led to building performance improvements, natural resource optimization and other milestone achievements, including Morguard being recognized as one of Canada’s Safest Employers for the eighth consecutive year.
- Morguard’s “New Days. New Ways” campaign provided a collection of tools to guide our employees and residents through the adoption of new health and safety protocols while also supporting the reopening efforts of our tenants across our retail, office, multi-suite residential, and industrial asset classes;
- Morguard properties used 5.3 per cent less energy, reduced greenhouse gas emissions by 7.8 per cent and consumed 9.4 per cent less water compared to 2019;
- Morguard diverted 5,600 metric tons of waste from landfills in 2020;
- Morguard successfully retrofitted two older generation office towers, aiming for LEED Gold designations as well as Wired and Fitwel certifications, while targeting reduced energy consumption and lowering operating costs to between 35 per cent and 40 per cent;
- Morguard achieved LEED Silver Certification for two new construction projects, bringing Morguard’s total number of certified properties to 14;
- Morguard re-certified 19 properties in office, retail, and universal assets for BOMA BEST certifications; and
- Morguard has 19 residential properties which have been recognized as Certified Rental Buildings. This provides a quality commitment to renters including the Living GREEN Togetherâ¢ sustainability standards.
“Our properties across North America aim for the highest standards as part of the focus on our 2035 long-term objectives,” said Beverley G. Flynn, Senior Vice President and General Counsel. “These objectives are key components of every sustainability decision and investment we make to create positive change that will benefit our stakeholders in the long term.”
Sustainable Morguard encompasses over 300 owned and managed real estate assets including commercial (retail, office and industrial), and multi-suite residential in Canada and the United States. The in-depth financial, physical and environmental analysis Morguard performs for each property comprises a range of environmental indicators that align with the company’s Responsible Property Investing (“RPI”) requirements, helping identify and address ESG risks and opportunities.
To download the complete reports, visit Sustainable Morguard at morguard.com/company/sustainability.
About Morguard Corporation
Morguard Corporation is a major North American real estate and property management company. It has extensive retail, office, industrial, hotel and residential holdings owned directly and through its investment in Morguard Real Estate Investment Trust and Morguard North American Residential REIT. Morguard also provides real estate management services to institutional and other investors. Morguard’s owned and managed portfolio of real estate assets are valued at $14.6 billion. For more information, visit http://www.morguard.com or follow us on LinkedIn.
SOURCE Morguard Corporation
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